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HomeMy WebLinkAboutC22-219 Economic and Planning SystemsAGREEMENT FOR PROFESSIONAL SERVICES
BETWEEN EAGLE COUNTY, COLORADO
AND
Economic & Planning Systems, Inc. (EPS)
THIS AGREEMENT (“Agreement”) is effective as of the 1st day of May, 2022 by and between
Economic & Planning Systems, Inc. (hereinafter “Consultant” or “Contractor”) and Eagle County,
Colorado, a body corporate and politic (hereinafter “County”).
RECITALS
WHEREAS, an Eagle County Housing Needs Assessment update was completed in 2018, which
indicated that 7,970 affordable housing units will be needed to keep up with the demand for affordable
housing units in Eagle County by the year 2030. Additionally, The Mountain Migration Report was
completed in 2021, and showed changes in housing occupancy throughout Colorado mountain resort
areas, including changes in the way housing units were occupied between full-time residents, part-time
residents and visitors; and
WHEREAS, Consultant will complete a nexus study to show the impacts of short-term rentals (STR’s) on
workforce housing availability in Eagle County including the relationship between guest spending from
STR’s and the demand for workforce housing. This information will be used by Eagle County
Government to make decisions on creating future programming or policies related to short-term rentals in
unincorporated Eagle County; and
WHEREAS, Consultant is authorized to do business in the State of Colorado and has the time, skill,
expertise, and experience necessary to provide the Services as defined below in paragraph 1 hereof; and
WHEREAS, this Agreement shall govern the relationship between Consultant and County in connection
with the Services.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing and the following promises Consultant and
County agree as follows:
1. Services. Consultant agrees to diligently provide all services, labor, personnel and materials
necessary to perform and complete the services described in Exhibit A (“Services”) which is attached
hereto and incorporated herein by reference. The Services shall be performed in accordance with the
provisions and conditions of this Agreement.
a. Consultant agrees to furnish the Services no later than 11/30/2022 and in accordance
with the schedule established in Exhibit A. If no completion date is specified in Exhibit A, then
Consultant agrees to furnish the Services in a timely and expeditious manner consistent with the
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Eagle County Prof Services Final 5/14
applicable standard of care. By signing below Consultant represents that it has the expertise and
personnel necessary to properly and timely perform the Services.
b. In the event of any conflict or inconsistency between the terms and conditions set forth in
Exhibit A and the terms and conditions set forth in this Agreement, the terms and conditions set forth in
this Agreement shall prevail.
c. Consultant agrees that it will not enter into any consulting or other arrangements with
third parties that will conflict in any manner with the Services.
2. County’s Representative. The Finance Department’s designee shall be Consultant’s contact with
respect to this Agreement and performance of the Services.
3. Term of the Agreement. This Agreement shall commence upon the date first written above, and
subject to the provisions of paragraph 12 hereof, shall continue in full force and effect through the 30th of
November 2022.
4. Extension or Modification. This Agreement may not be amended or supplemented, nor may any
obligations hereunder be waived, except by agreement signed by both parties. No additional services or
work performed by Consultant shall be the basis for additional compensation unless and until Consultant
has obtained written authorization and acknowledgement by County for such additional services in
accordance with County’s internal policies. Accordingly, no course of conduct or dealings between the
parties, nor verbal change orders, express or implied acceptance of alterations or additions to the Services,
and no claim that County has been unjustly enriched by any additional services, whether or not there is in
fact any such unjust enrichment, shall be the basis of any increase in the compensation payable hereunder.
In the event that written authorization and acknowledgment by County for such additional services is not
timely executed and issued in strict accordance with this Agreement, Consultant’s rights with respect to
such additional services shall be deemed waived and such failure shall result in non-payment for such
additional services or work performed.
5. Compensation. County shall compensate Consultant for the performance of the Services in a sum
computed and payable as set forth in Exhibit A. The performance of the Services under this Agreement
shall not exceed $57,500. Consultant shall not be entitled to bill at overtime and/or double time rates for
work done outside of normal business hours unless specifically authorized in writing by County.
a. Payment will be made for Services satisfactorily performed within thirty (30) days of
receipt of a proper and accurate invoice from Consultant. All invoices shall include detail regarding the
hours spent, tasks performed, who performed each task and such other detail as County may request.
b. Any out-of-pocket expenses to be incurred by Consultant and reimbursed by County shall
be identified on Exhibit A. Out-of-pocket expenses will be reimbursed without any additional mark-up
thereon and are included in the not to exceed contract amount set forth above. Out-of-pocket expenses
shall not include any payment of salaries, bonuses or other compensation to personnel of Consultant.
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Consultant shall not be reimbursed for expenses that are not set forth on Exhibit A unless specifically
approved in writing by County.
c. If, at any time during the term or after termination or expiration of this Agreement,
County reasonably determines that any payment made by County to Consultant was improper because the
Services for which payment was made were not performed as set forth in this Agreement, then upon
written notice of such determination and request for reimbursement from County, Consultant shall
forthwith return such payment(s) to County. Upon termination or expiration of this Agreement,
unexpended funds advanced by County, if any, shall forthwith be returned to County.
d. County will not withhold any taxes from monies paid to the Consultant hereunder and
Consultant agrees to be solely responsible for the accurate reporting and payment of any taxes related to
payments made pursuant to the terms of this Agreement.
e. Notwithstanding anything to the contrary contained in this Agreement, County shall have
no obligations under this Agreement after, nor shall any payments be made to Consultant in respect of any
period after December 31 of any year, without an appropriation therefor by County in accordance with a
budget adopted by the Board of County Commissioners in compliance with Article 25, title 30 of the
Colorado Revised Statutes, the Local Government Budget Law (C.R.S. 29-1-101 et. seq.) and the
TABOR Amendment (Colorado Constitution, Article X, Sec. 20).
6. Sub-consultants. Consultant acknowledges that County has entered into this Agreement in
reliance upon the particular reputation and expertise of Consultant. Consultant shall not enter into any
sub-consultant agreements for the performance of any of the Services or additional services without
County’s prior written consent, which may be withheld in County’s sole discretion. County shall have
the right in its reasonable discretion to approve all personnel assigned to the subject Project during the
performance of this Agreement and no personnel to whom County has an objection, in its reasonable
discretion, shall be assigned to the Project. Consultant shall require each sub-consultant, as approved by
County and to the extent of the Services to be performed by the sub-consultant, to be bound to Consultant
by the terms of this Agreement, and to assume toward Consultant all the obligations and responsibilities
which Consultant, by this Agreement, assumes toward County. County shall have the right (but not the
obligation) to enforce the provisions of this Agreement against any sub-consultant hired by Consultant
and Consultant shall cooperate in such process. The Consultant shall be responsible for the acts and
omissions of its agents, employees and sub-consultants or sub-contractors.
7. Insurance. Consultant agrees to provide and maintain at Consultant’s sole cost and expense, the
following insurance coverage with limits of liability not less than those stated below:
a. Types of Insurance.
i. Workers’ Compensation insurance as required by law.
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ii. Auto coverage with limits of liability not less than $1,000,000 each accident
combined bodily injury and property damage liability insurance, including coverage for owned, hired, and
non-owned vehicles.
iii. Commercial General Liability coverage to include premises and operations,
personal/advertising injury, products/completed operations, broad form property damage with limits of
liability not less than $1,000,000 per occurrence and $2,000,000 aggregate limits.
iv. Professional liability insurance with prior acts coverage for all Services required
hereunder, in a form and with an insurer or insurers satisfactory to County, with limits of liability of not
less than $1,000,000 per claim and $2,000,000 in the aggregate. In the event the professional liability
insurance is on a claims-made basis, Consultant warrants that any retroactive date under the policy shall
precede the effective date of this Agreement. Continuous coverage will be maintained during any
applicable statute of limitations for the Services and Project.
b. Other Requirements.
i. The automobile and commercial general liability coverage shall be endorsed to
include Eagle County, its associated or affiliated entities, its successors and assigns, elected officials,
employees, agents and volunteers as additional insureds.
ii. Consultant’s certificates of insurance shall include sub-consultants as additional
insureds under its policies or Consultant shall furnish to County separate certificates and endorsements for
each sub-consultant. All coverage(s) for sub-consultants shall be subject to the same minimum
requirements identified above. Consultant and sub-consultants, if any, shall maintain the foregoing
coverage in effect until the Services are completed. In addition, all such policies shall be kept in force by
Consultant and its sub-consultants until the applicable statute of limitations for the Project and the
Services has expired.
iii. Insurance shall be placed with insurers duly licensed or authorized to do business
in the State of Colorado and with an “A.M. Best” rating of not less than A-VII.
iv. Consultant’s insurance coverage shall be primary and non-contributory with
respect to all other available sources. Consultant’s policy shall contain a waiver of subrogation against
Eagle County.
v. All policies must contain an endorsement affording an unqualified thirty (30)
days notice of cancellation to County in the event of cancellation of coverage.
vi. All insurers must be licensed or approved to do business within the State of
Colorado and all policies must be written on a per occurrence basis unless otherwise provided herein.
vii. Consultant’s certificate of insurance evidencing all required coverage(s) is
attached hereto as Exhibit B. Upon request, Consultant shall provide a copy of the actual insurance
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policy and/or required endorsements required under this Agreement within five (5) business days of a
written request from County, and hereby authorizes Consultant’s broker, without further notice or
authorization by Consultant, to immediately comply with any written request of County for a complete
copy of the policy.
viii. Consultant shall advise County in the event the general aggregate or other
aggregate limits are reduced below the required per occurrence limit. Consultant, at its own expense, will
reinstate the aggregate limits to comply with the minimum limits and shall furnish County a new
certificate of insurance showing such coverage.
ix. If Consultant fails to secure and maintain the insurance required by this
Agreement and provide satisfactory evidence thereof to County, County shall be entitled to immediately
terminate this Agreement.
x. The insurance provisions of this Agreement shall survive expiration or
termination hereof.
xi. The parties hereto understand and agree that the County is relying on, and does
not waive or intend to waive by any provision of this Agreement, the monetary limitations or rights,
immunities and protections provided by the Colorado Governmental Immunity Act, as from time to time
amended, or otherwise available to County, its affiliated entities, successors or assigns, its elected
officials, employees, agents and volunteers.
xii. Consultant is not entitled to workers’ compensation benefits except as
provided by the Consultant, nor to unemployment insurance benefits unless unemployment compensation
coverage is provided by Consultant or some other entity. The Consultant is obligated to pay all federal
and state income tax on any moneys paid pursuant to this Agreement.
8. Indemnification. The Consultant shall indemnify and hold harmless County, and any of its
officers, agents and employees against any losses, claims, damages or liabilities for which County may
become subject to insofar as any such losses, claims, damages or liabilities arise out of, directly or
indirectly, this Agreement, or are based upon any performance or nonperformance by Consultant or any
of its sub-consultants hereunder; and Consultant shall reimburse County for reasonable attorney fees and
costs, legal and other expenses incurred by County in connection with investigating or defending any such
loss, claim, damage, liability or action. This indemnification shall not apply to claims by third parties
against the County to the extent that County is liable to such third party for such claims without regard to
the involvement of the Consultant. This paragraph shall survive expiration or termination hereof.
9. Ownership of Documents. All documents prepared by Consultant in connection with the Services
shall become property of County. Consultant shall execute written assignments to County of all rights
(including common law, statutory, and other rights, including copyrights) to the same as County shall
from time to time request. For purposes of this paragraph, the term “documents” shall mean and include
all reports, plans, studies, tape or other electronic recordings, drawings, sketches, estimates, data sheets,
maps and work sheets produced, or prepared by or for Consultant (including any employee or
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subconsultant in connection with the performance of the Services and additional services under this
Agreement).
10. Notice. Any notice required by this Agreement shall be deemed properly delivered when (i)
personally delivered, or (ii) when mailed in the United States mail, first class postage prepaid, or (iii)
when delivered by FedEx or other comparable courier service, charges prepaid, to the parties at their
respective addresses listed below, or (iv) when sent via facsimile so long as the sending party can provide
facsimile machine or other confirmation showing the date, time and receiving facsimile number for the
transmission, or (v) when transmitted via e-mail with confirmation of receipt. Either party may change its
address for purposes of this paragraph by giving five (5) days prior written notice of such change to the
other party.
COUNTY:
Eagle County, Colorado
Attention: Anna Earl
500 Broadway
Post Office Box 850
Eagle, CO 81631
Telephone: 970-328-3514
E-Mail: anna.earl@eaglecounty.us
With a copy to:
Eagle County Attorney
500 Broadway
Post Office Box 850
Eagle, Co 81631
Telephone: 970-328-8685
Facsimile: 970-328-8699
E-Mail: atty@eaglecounty.us
CONSULTANT:
Andrew Knudtsen
Economic & Planning Systems, Inc. (EPS)
730 17th Street Suite 630
Denver, CO 80202
Telephone: 303-623-3557
E-Mail: aknudtsen@epsdenver.com
11. Coordination. Consultant acknowledges that the development and processing of the Services for
the Project may require close coordination between various consultants and contractors. Consultant shall
coordinate the Services required hereunder with the other consultants and contractors that are identified
by County to Consultant from time to time, and Consultant shall immediately notify such other
consultants or contractors, in writing, of any changes or revisions to Consultant’s work product that might
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affect the work of others providing services for the Project and concurrently provide County with a copy
of such notification. Consultant shall not knowingly cause other consultants or contractors extra work
without obtaining prior written approval from County. If such prior approval is not obtained, Consultant
shall be subject to any offset for the costs of such extra work.
12. Termination. County may terminate this Agreement, in whole or in part, at any time and for any
reason, with or without cause, and without penalty therefor with seven (7) calendar days’ prior written
notice to the Consultant. Upon termination of this Agreement, Consultant shall immediately provide
County with all documents as defined in paragraph 9 hereof, in such format as County shall direct and
shall return all County owned materials and documents. County shall pay Consultant for Services
satisfactorily performed to the date of termination.
13. Venue, Jurisdiction and Applicable Law. Any and all claims, disputes or controversies related to
this Agreement, or breach thereof, shall be litigated in the District Court for Eagle County, Colorado,
which shall be the sole and exclusive forum for such litigation. This Agreement shall be construed and
interpreted under and shall be governed by the laws of the State of Colorado.
14. Execution by Counterparts; Electronic Signatures. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the
same instrument. The parties approve the use of electronic signatures for execution of this Agreement.
Only the following two forms of electronic signatures shall be permitted to bind the parties to this
Agreement: (i) Electronic or facsimile delivery of a fully executed copy of the signature page; (ii) the
image of the signature of an authorized signer inserted onto PDF format documents. All documents must
be properly notarized, if applicable. All use of electronic signatures shall be governed by the Uniform
Electronic Transactions Act, C.R.S. 24-71.3-101 to 121.
15. Other Contract Requirements.
a. Consultant shall be responsible for the completeness and accuracy of the Services,
including all supporting data or other documents prepared or compiled in performance of the Services,
and shall correct, at its sole expense, all significant errors and omissions therein. The fact that the County
has accepted or approved the Services shall not relieve Consultant of any of its responsibilities.
Consultant shall perform the Services in a skillful, professional and competent manner and in accordance
with the standard of care, skill and diligence applicable to Consultants performing similar services.
Consultant represents and warrants that it has the expertise and personnel necessary to properly perform
the Services and covenants that its professional personnel are duly licensed to perform the Services within
Colorado. This paragraph shall survive termination of this Agreement.
b. Consultant agrees to work in an expeditious manner, within the sound exercise of its
judgment and professional standards, in the performance of this Agreement. Time is of the essence with
respect to this Agreement.
c. This Agreement constitutes an agreement for performance of the Services by Consultant
as an independent contractor and not as an employee of County. Nothing contained in this Agreement
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shall be deemed to create a relationship of employer-employee, master-servant, partnership, joint venture
or any other relationship between County and Consultant except that of independent contractor.
Consultant shall have no authority to bind County.
d. Consultant represents and warrants that at all times in the performance of the Services,
Consultant shall comply with any and all applicable laws, codes, rules and regulations.
e. This Agreement contains the entire agreement between the parties with respect to the
subject matter hereof and supersedes all other agreements or understanding between the parties with
respect thereto.
f. Consultant shall not assign any portion of this Agreement without the prior written
consent of the County. Any attempt to assign this Agreement without such consent shall be void.
g. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto
and their respective permitted assigns and successors in interest. Enforcement of this Agreement and all
rights and obligations hereunder are reserved solely for the parties, and not to any third party.
h. No failure or delay by either party in the exercise of any right hereunder shall constitute a
waiver thereof. No waiver of any breach shall be deemed a waiver of any preceding or succeeding
breach.
i. The invalidity, illegality or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provision hereof.
j. Consultant shall maintain for a minimum of three years, adequate financial and other
records for reporting to County. Consultant shall be subject to financial audit by federal, state or county
auditors or their designees. Consultant authorizes such audits and inspections of records during normal
business hours, upon 48 hours’ notice to Consultant. Consultant shall fully cooperate during such audit or
inspections.
k. The signatories to this Agreement aver to their knowledge, no employee of the County
has any personal or beneficial interest whatsoever in the Services or Property described in this
Agreement. The Consultant has no beneficial interest, direct or indirect, that would conflict in any manner
or degree with the performance of the Services and Consultant shall not employ any person having such
known interests.
l. The Consultant, if a natural person eighteen (18) years of age or older, hereby swears and
affirms under penalty of perjury that he or she (i) is a citizen or otherwise lawfully present in the United
States pursuant to federal law, (ii) to the extent applicable shall comply with C.R.S. 24-76.5-103 prior to
the effective date of this Agreement.
16. Prohibitions on Government Contracts.
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As used in this Section 16, the term undocumented individual will refer to those individuals from foreign
countries not legally within the United States as set forth in C.R.S. 8-17.5-101, et. seq. If Consultant has
any employees or subcontractors, Consultant shall comply with C.R.S. 8-17.5-101, et. seq., and this
Agreement. By execution of this Agreement, Consultant certifies that it does not knowingly employ or
contract with an undocumented individual who will perform under this Agreement and that Consultant
will participate in the E-verify Program or other Department of Labor and Employment program
(“Department Program”) in order to confirm the eligibility of all employees who are newly hired for
employment to perform Services under this Agreement.
a. Consultant shall not:
i. Knowingly employ or contract with an undocumented individual to perform
Services under this Agreement; or
ii. Enter into a subcontract that fails to certify to Consultant that the subcontractor
shall not knowingly employ or contract with an undocumented individual to perform work under the
public contract for services.
b. Consultant has confirmed the employment eligibility of all employees who are newly
hired for employment to perform Services under this Agreement through participation in the E-Verify
Program or Department Program, as administered by the United States Department of Homeland
Security. Information on applying for the E-verify program can be found at:
https://www.uscis.gov/e-verify
c. Consultant shall not use either the E-verify program or other Department Program
procedures to undertake pre-employment screening of job applicants while the public contract for services
is being performed.
d. If Consultant obtains actual knowledge that a subcontractor performing work under the
public contract for services knowingly employs or contracts with an undocumented individual, Consultant
shall be required to:
i. Notify the subcontractor and County within three (3) days that Consultant has
actual knowledge that the subcontractor is employing or contracting with an undocumented individual; and
ii. Terminate the subcontract with the subcontractor if within three days of receiving
the notice required pursuant to subparagraph (i) of the paragraph (d) the subcontractor does not stop
employing or contracting with the undocumented individual; except that Consultant shall not terminate the
contract with the subcontractor if during such three (3) days the subcontractor provides information to
establish that the subcontractor has not knowingly employed or contracted with an undocumented
individual.
e. Consultant shall comply with any reasonable request by the Department of Labor and
Employment made in the course of an investigation that the department is undertaking pursuant to its
authority established in C.R.S. 8-17.5-102(5).
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f. If Consultant violates these prohibitions, County may terminate the Agreement for breach
of contract. If the Agreement is so terminated specifically for breach of this provision of this Agreement,
Consultant shall be liable for actual and consequential damages to County as required by law.
g. County will notify the Colorado Secretary of State if Consultant violates this provision of
this Agreement and County terminates the Agreement for such breach.
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IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first set forth above.
COUNTY OF EAGLE, STATE OF COLORADO,
By and Through Its COUNTY MANAGER
By: ______________________________
Jeff Shroll, County Manager
CONSULTANT:
By:________________________________
Print Name: _________________________
Title: ______________________________
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Managing Principal
Andrew Knudtsen
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Eagle County Prof Services Final 5/14
EXHIBIT A
SCOPE OF SERVICES, SCHEDULE, FEES
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E
Economic & Planning Systems, Inc.
March 31, 2022 | Updated May 6, 2022 EPS #223026
Prepared for:
Short-Term Rental Program Fee Nexus Study
Eagle County, Colorado
Prepared by:
with:
PROPOSAL
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E
Table of Contents
1
2
3
4
PROPOSAL FORM 1
Cover Letter 2
QUALIFICATIONS 3
Project Team Résumés 7
EXPERIENCE 12
SCHEDULE 20
BUDGET/PRICING 20-21
FAMILIARITY WITH EAGLE COUNTY 22
REFERENCES 26
LEGAL ISSUES 27
DELIVERABLES 27
5
6
7
8
9
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E
REQUEST FOR PROPOSAL
PROPOSAL FORM
THIS PROPOSAL FORM MUST BE SUBMITTED WITH YOUR PROPOSAL
TO: Eagle County, Colorado
500 Broadway
Post Office Box 850
Eagle, CO 81631
Re:Short-Term Rental Program Fee Nexus Report
The undersigned, having examined the Instructions to Proposers and any and all
documents related to the above referenced RFP:
(a) agree to comply with all conditions, requirements, and instructions of the Request
for Proposal as stated or implied therein;
(b) Acknowledges the right of Eagle County, Colorado in its sole discretion to reject
any or all proposals submitted, and that an award may be made to a proposer even though
not the lowest cost;
(c) Acknowledges and agrees that the discretion of Eagle County, Colorado in
selection of the successful proposers shall be final, not subject to review or attack; and
(d) Acknowledges that this proposal is made with full knowledge of the foregoing
and full agreement thereto.
By submission of this proposal, and signature below, the respondent acknowledges that
he has the authority to sign this Proposal Form and bind the company named below. The
proposer further acknowledges that Eagle County, Colorado has the right to make any
inquiry or investigation it deems appropriate to substantiate or supplement information
contained in the proposal and related documents, and authorizes release to Eagle County
of any and all information sought in such inquiry or investigation.
Company Name: _______________________________________
Title of Proposer: _______________________________________
Signature of Proposer:_______________________________________
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RFP Professional Services Eagle County Final 6/14
Economic & Planning Systems, Inc.
Managing Principal
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E
Economic & Planning Systems, Inc.
The Economics of Land Use
730 17th Street
Suite 630
Denver, CO 80202
303 623 3557
Denver
Los Angeles
Oakland
Sacramento
epsys.com
March 31, 2022
Ms. Anna Earl
Finance Manager
Eagle County, Colorado
500 Broadway
Eagle, CO 81631
electronic submission via bidnet
Subject: Short-Term Rental Program Fee Nexus Study; EPS #223026
Dear Ms. Earl:
Economic & Planning Systems (EPS) and RRC Associates is pleased to present
this proposal to prepare a Short-Term Rental Program Fee Nexus Study for
Eagle County. We believe we have a solid understanding of Eagle County from
our extensive work done throughout the county in the past. We bring a wealth
of experience to affordable housing challenges, including innovative solutions
for emerging challenges.
EPS is a full-service economics consulting firm founded in 1983 with 42
employees in its Denver, Oakland, Sacramento and Los Angeles offices. EPS
has a broad-based practice in real estate analysis, public finance, and land use
policy. The firm has worked with a wide range of public and private clients
throughout the nation and has established a reputation for objective high
quality analysis and creativity.
The EPS team brings a depth of knowledge, insight, and local experience to
their work. Andrew Knudtsen, Managing Principal, will oversee the project
and ensure alignment between community needs, project direction, and
firm deliverables. He will be supported by Brian Duffany, Principal, and Rachel
Shindman, Vice President, both of whom are experienced in and passionate
about housing and will support the analysis and outreach components. Brian
will be the project advisor, providing his insights and knowledge on affordable
housing strategies and experience from previous affordable housing work in
the Rocky Mountain West to support the analysis. Rachel will be the project
manager, serving as the day-to-day contact and primary technical analyst, and
be available for interaction with County staff whenever needed.
We have enjoyed our previous work with Eagle County and look forward to the
opportunity to continue our involvement in the community and work on this
project.
Sincerely,
ECONOMIC & PLANNING SYSTEMS, INC.
Andrew Knudtsen
Managing Principal
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E
Economic & Planning Systems, Inc. | RRC Associates
Short-Term Rental Program Fee Nexus Study
3
2. QUALIFICATIONS
EPS has addressed real
estate development and
land use issues in all phases
of the urban life cycle for
public and private sector
clients throughout the
western United States for
nearly 40 years. EPS excels in
collaborating with our clients
to create and maintain places
that are economically, socially,
and ecologically sustainable.
Every day, our assignments require us to creatively solve complex challenges in
real estate development, land use policy, and local government finance.
Affordable Housing
EPS provides a full spectrum of services related to affordable housing,
workforce housing, and market-rate housing. At the macro level, we work with
communities to structure initial strategic housing plan frameworks, revise
housing needs goals, establish production or rehabilitation targets, develop
financing plans, or provide rigorous analysis that quantifies the return on
investment from public dollars directed toward housing goals. We conduct
citywide analyses of housing market conditions and trends and housing needs
analyses that identify the supply and demand by product type and income
levels. We also develop regulatory approaches to generating affordable housing
including inclusionary housing ordinances, as well as conduct nexus studies to
establish impact and linkage fees that generate funding to be applied to the
provision of housing.
At the project level, EPS evaluates affordable housing proposals to determine
the need for and application of public investment. And as with all of our real
estate feasibility work, we provide sound, objective analysis of the project pro
forma to evaluate the need for, amount, and type of public investment under
consideration.
Project Team
The following pages include team firm bios and résumés for key personnel
assigned to the project. Their respective qualifications and relevant experience
to the Short-Term Rental Program Fee Nexus Study are provided.
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E
About
Economic &
Planning Systems
303 623 3557
Denver | Los Angeles | Oakland | Sacramento
epsys.com
Clients Served
Since 1983 EPS has
provided consulting
services to hundreds
of public- and
private-sector clients
in Colorado and
throughout the United
States. Clients include
cities, counties, special
districts, multi-
jurisdictional authorities,
property owners,
developers, financial
institutions, and land
use attorneys.
Staff Capabilities
The professional staff
includes specialists in
public finance, real estate
development, land use and
transportation planning,
government organization,
and computer applications.
The firm excels in
preparing concise analyses
that disclose risks and
impacts, support decision
making, and provide
solutions to real estate
development and land
use-related problems.
X Real Estate Economics
X Public Finance
X Land Use & Transportation
X Economic Development
& Revitalization
X Fiscal and Economic
Impact Analysis
X Housing Policy
X Public-Private
Partnership (P3)
X Parks and Open Space
Economics
X
X
X
X
X
X
X
X
AREAS OF EXPERTISE
Economic & Planning Systems, Inc. (EPS) is a land economics consulting
firm experienced in the full spectrum of services related to real estate development, the
financing of public infrastructure and government services, land use and conservation
planning, and government organization.
EPS was founded on the principle that real estate development and land use-related
public policy should be built on realistic assessment of market forces and economic
trends, feasible implementation measures, and recognition of public policy objectives,
including provisions for required public facilities and services.
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E
Archuleta County Housing Needs
and Policy Assessment
Aspen Housing Update
Aurora Housing and Community
Needs Assessment
Basalt Affordable Housing
Strategy
Bexar County TX Housing Needs
Assessment
Big Sky MT Housing
Development Plan
Billings MT Workforce Housing
Needs Assessment
Boulder lnclusionary Housing
Rental Policy Update
Boulder Rental Housing Climate
Action Plan Cost Impact
Broomfield CO McWhinney
Affordable Housing Analysis
Chaffee County Housing Needs
Assessment
City & County of Denver Housing
Economic Study/ Denver IHO
Clear Creek County Housing
Assessment
Denver Housing Production and
Funding Analysis
Douglas County Housing
Partnership Nexus Study
Edwards Housing Economic
Impact Study
Fort Collins lnclusionary Housing
Study
Lakewood Housing Study
Lakewood Support for
Development Review Process
Leadville and Lake County
Housing Needs Assessment
Longmont Inclusionary Housing
Study
Manitou Springs Affordable
Housing Needs Assessment
Northern Colorado Housing
Density Analysis
Oklahoma City OK Housing Plan
Ontario Canada Inclusionary
Zoning Policy Study
Plano TX Housing Trends Analysis
and Strategic Plan
HOUSING POLICY
REPRESENTATIVE PROJECTS
has a depth of affordable housing related
experience. Availability of housing that
meets the need for the full spectrum of affordability
should be viewed as an integral part of any
successful region, conferring economic, social, and
environmental benefits that underpin sustainable
growth. In recent years, many communities have
experienced significant increases in housing demand,
pushing rents and prices beyond the level that
median-income households can afford. Rising housing
costs can cause overcrowding, financial hardship, and in some cases force households to leave their
neighborhoods, jobs, and/or social networks. The lack of access to affordable housing affects all sectors
of society and has become a particular problem for workers in lower paying fields (e.g., service, public,
and non-profit sectors).
EPS offers a full spectrum of services related to assessing specific population affordable housing needs,
workforce housing, and market-rate housing. We work with communities to structure initial strategic
housing plan frameworks, revise housing needs goals, establish production or rehabilitation targets,
develop financing plans, or provide rigorous analysis that quantifies the return on investment from
public dollars directed toward housing goals. Our work integrates an understanding of local, regional,
and national market and policy forces. EPS works in a variety of contexts, from large urban metropolitan
areas and regional planning organizations to smaller, rural, suburban, and resort markets.
Portland OR Housing Incentive
Analysis
Roaring Fork Valley Regional
Housing Authority 2017 Housing
Needs
San Antonio Housing Production
Target Study
San Antonio TX Housing Policy
San Miguel County Housing
Needs Analysis
Sonoran Institute Housing Market
Study
St. Anthony Center Housing
Needs Assessment
Summit County Housing Needs
Update
Summit County Peer Review
SW Colorado Regional Housing
Plan
Tri County Housing Needs
Assessment
UAACOG Housing Needs
Assessment
Windsor Study of Demographics
and Housing Opportunities
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E
4770 Baseline Road, Suite 360 | Boulder, Colorado 80303 | P: 303.449.6558 | www.rrcassociates.com
RRC Associates offers services in research, planning, and economic/feasibility analysis to local governments,
parks and recreation departments, public agencies, corporations and private developers. In addition, RRC has
experience with a variety of specialized recreation topics and situations and frequently works with resort
communities and ski area operators, trade associations, destination marketing organizations, non-profits, and
others interested in recreation, tourism, and “quality of life topics.” The company is made up of a small group of
professionals with extensive experience and qualifications to meet the needs and challenges of recreation-
oriented organizations.
The RRC team uses proven research tools to conduct quantitative and qualitative studies to support needs
assessments, master plans and other specialized evaluations. Through extensive consulting work with a variety
of clients, the staff at RRC is knowledgeable about best practices, industry benchmarks, market trends, and the
wide range of programs and approaches that are being used by recreation and tourism organizations throughout
North America.
RRC Associates strives for a pragmatic approach that balances innovation, customization, and providing proven
services at a reasonable cost. The firm takes pride in our demonstrated ability to meet a project’s time and budget
requirements. Our firm’s small size permits us to offer a very personal level of service to our clients; senior
members of the firm are highly involved in every project.
SERVICES OFFERED
Community Planning
Parks and Recreation Program Analysis
Housing Needs Assessments
Population and Employment Research
Economic Development Planning
Economic Impact Analysis
Fiscal Impact Analysis
Program Development and Optimization
Project Feasibility Analysis
Public Processing and Approvals
Goals and Policy Formulation
Surveys and Market Research
Comprehensive Plan Surveys
Parks, Recreation and Open Space Surveys
Affordable Housing Surveys
Local Government Opinion Surveys/Performance
Evaluations
Customer/User Satisfaction Surveys
Market Studies and Strategic Analysis
Demographic Research
Visitor Profile Research
Special Client Services
General Consultation
Project Team Coordination and Management
Financial Presentation Packages
Public Participation Workshops
Strategic Project Positioning
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E
730 17th Street, Suite 630, Denver, CO 80202 aknudtsen@epsdenver.com
Economic & Planning Systems, Inc.
The Economics of Land Use
www.epsys.com 720 460 3301 (direct)
Andrew Knudtsen, CCIM
Andrew Knudtsen, CCIM, draws from over 25 years’ experience
addressing the economic basis for land use policy, with a specific focus
on affordable housing programs, policies, incentives, and requirements.
Andrew has conducted numerous affordable housing studies ranging
from mountain resort communities to urban regions. He has advised
both public and private sector entities around affordable housing
requirements and understands the policy goals and community need
for housing, as well as the economic implications. He started his work
related to affordable housing as staff member for the Town of Vail and
structured three public-private partnerships, developing approximately
175 units during his tenure on staff. Andrew understands the challenges
and the rewards associated with providing housing for locals.
SELECTED PROJECT MANAGEMENT EXPERIENCE \
¾Short Term Rental Linkage Fee Study | Vail, CO
¾Short Term Rental Regulatory Fee Study | Breckenridge, CO
¾Housing Linkage Program | Mountain Village, CO
¾Economic Sustainability Model | Telluride-Mountain Village, CO
¾Affordable Housing Mitigation Rate and Fee-In-Lieu Updates | Vail, CO
¾Affordable Housing Strategic Plan | Aspen, CO
¾Chamonix Affordable Housing Market Feasibility Study Vail, CO
¾West Steamboat Neighborhood Annexation | Steamboat Springs, CO
¾Montrose County Socioeconomic Study | Montrose, CO
¾Cattle Creek Crossing Market Study Garfield County, CO
¾Housing Demand Analysis | San Miguel County, CO
¾Wintergreen Apartment Market Study | Summit County, CO
¾Housing Needs Assessment | Lake County, CO
¾Housing Needs Assessment | Upper Arkansas Area Council of
Governments, Colorado
¾Telluride Housing Strategy | Telluride, CO
Managing Principal
Education
Bachelors of Environmental
Design, Summa Cum Laude
University of Colorado
Employment History
21 Years with EPS
27 Years Experience
Affiliations
CCIM – Certified Commercial
Investment Manager;
Certificate No.: 18731
ULI – Member of the Explorers
Committee
State of Colorado Governor’s
Blue Ribbon Affordable
Housing Panel
Publications
”Urban-Suburbia”, Urban Land,
October 2008.
Speaking Engagements
Rail-Volution “Feasibility
Evaluation of Joint Venture
Development” Vancouver, BC
Rail-Volution “Value Capture
for the Rest of US” Seattle, WA
Appraisal Institute “Transit
Oriented Development:
Value Capture and Market
Positioning” San Diego, CA
Urban Land Institute
“Quantifying Sustainability”
Washington, D.C.
Sonoran Institute Summit
“Real Estate Premiums and
Sustainable Development
Trends” Bozeman, MT
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E
730 17th Street, Suite 630, Denver, CO 80202 bduffany@epsdenver.com
Economic & Planning Systems, Inc.
The Economics of Land Use
www.epsys.com 303 623 3557
Brian Duffany
Brian Duffany is a real estate economist and planner with over 20 years
of experience in land economics. Brian has specialized in evaluating
the impacts of major real estate investments, and other land use issues
such as affordable housing and economic development in mountain
communities. He is skilled in financial and demographic analysis and
forecasting, economic impact analysis, infrastructure financing analysis,
and policy analysis and strategies.
SELECTED PROJECT EXPERIENCE
¾Community Plan Update | Minturn, CO
¾Revenue Study Update | Avon, CO
¾Routt County Master Plan | Colorado
¾Urban Renewal Project Evaluations | Bozeman, MT
¾Growth Policy Update | Bozeman, MT
¾Downtown Housing Strategy | Billings, MT
¾Walsenburg and Huerfano County CEDS
¾Housing Needs Update | Chaffee County, CO
¾Targeted Economic Development District Feasibility Study
Yellowstone County, MT
¾Southeast Colorado Opportunity Zone Prospectus
¾Comprehensive Plan Economics | Fruita, CO
¾Fruita in Motion | Fruita, CO
¾Housing and Community Sustainability Study | Flagstaff, AZ
¾Workforce Housing Land Swap Impact Analysis | Summit County, CO
¾Housing Mitigation Fee Study | Pagosa Springs, CO
¾Inclusionary Zoning and Linkage Fee Policy Study | Fort Collins, CO
¾West Steamboat Neighborhood Annexation | Steamboat Springs, CO
¾Regional Tax Increment Financing Study | Larimer County, CO
¾Housing and Community Sustainability Study | Flagstaff, AZ
¾Housing Strategy | Clear Creek County, CO
¾Base Area Retail Analysis | Steamboat Springs, CO
¾EverVail Fiscal and Economic Impact Analysis | Vail, CO
¾Lodging Development Policy | Aspen, CO
Education
Master of Regional
Planning, Cornell
University
Bachelor of Arts, Colby
College
Employment History
23 Years Experience
18 Years with EPS
Affiliations
American Planning
Association
Urban Land Institute
Colorado Municipal
League
Speaking Engagements
TIF for TAT: Urban
Renewal After HB 15-1348,
Rocky Mountain Land Use
Institute Conference, 2018
Streetcar Economics,
American Planning
Association Conference,
2010
Principal
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Rachel Shindman, AICP
730 17th Street, Suite 630, Denver, CO 80202 rshindman@epsdenver.com
Economic & Planning Systems, Inc.
The Economics of Land Use
www.epsys.com
Vice President
303 623 3557
Rachel Shindman, AICP, brings several years of experience in many of
EPS’s practice areas. Her specializations include real estate economics,
fiscal and economic impact analysis, and economic development and
revitalization. She has a strong skill set for addressing urban economic
and policy issues, and her experience in public, private, and non-profit
organizations enables her to work successfully with a diverse set of clients.
SELECTED PROJECT EXPERIENCE
¾Short Term Rental Study | Vail, CO
¾Short Term Rental Regulatory Fee Study | Breckenridge, CO
¾Housing Linkage Program | Mountain Village, CO
¾Affordable Housing Mitigation Rate and Fee-in-Lieu Updates
Vail, CO
¾Housing Needs Update | Summit County, CO
¾Housing Needs Assessment | Lake County, CO
¾Housing Needs Study | Archuleta County, CO
¾Housing Needs Assessment | Upper Arkansas Area Council of
Governments, CO
¾Housing Needs Assessment | Chaffee County, CO
¾St. Anthony’s Summit Medical Center Workforce Housing Solutions
Frisco, CO
¾Peoria Crossing Market Study | Aurora, CO
¾Comprehensive Housing Needs Assessment | Fort Morgan, CO
¾Housing and Transportation Funding Model | Boulder County, CO
¾Downtown Workforce Housing Needs Assessment | Billings, MT
¾Comprehensive Housing Policy Framework | San Antonio, TX
¾Housing Policy Study | San Antonio, TX
¾Housing Trends and Strategic Plan | Plano, TX
¾Nashville Inclusionary Housing Study | Nashville, TN
¾Inclusionary Housing Calculator Tool Development | Ontario, Canada
Education
Master of Regional Planning,
Cornell University
B.A., Queen’s University
B.Ed., Queen’s University
Certificate in GIS, Queen’s
University
Employment History
7 Years with EPS
Affiliations
American Institute of Certified
Planners
American Planning Association
Urban Land Institute
Presentations
Tiny Homes, Big Ideas:
Alternative Housing,
Conventional Reality Panel
Discussion (convener and
facilitator) American Planning
Association – Colorado State
Conference, Keystone, CO 2018
Can Tiny Homes Help Solve
Denver’s Affordable Housing
Crisis? Panel Discussion
(moderator) Denver Design
Week, Denver, CO 2018
Finding the “Opportunity”
in Opportunity Zones Panel
Discussion (convener and
moderator) American Planning
Association – Colorado State
Conference, Snowmass 2019
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C. Chris Cares
Managing Director/Founding Partner
ABOUT
Chris possesses a diverse background in recreation and tourism research. A founding
partner of RRC Associates, he specializes in practical research techniques including survey
and qualitative research, modeling and applied analysis to support planning efforts and to
solve problems in municipal administration and business applications. Parks and recreation
needs assessments, with emphasis on adventure sports, are particular areas of
specialization. Additionally, Chris has decades of experience working with the outdoor
recreation industry including mountain resorts on summer and winter activities/facilities.
Chris has overseen hundreds of community/citizen surveys in cities and counties throughout
the United States, which provide input to parks, recreation, trails, open space, and planning
needs assessments. These studies are typically incorporated into parks and open space
master plans, or other policy documents.
EDUCATION
Master of City Planning: Harvard University 1975
Bachelor of Arts, Political Science: University of Rochester 1972
PROFESSIONAL EXPERIENCE
1983 to present Managing Director/Founding Partner, RRC Associates, Boulder, CO
1977 to 1981 Planner/Associate, Gage Davis Associates, Boulder, CO
1976 to 1977 Planner, City of Boulder, Boulder, CO
RELEVANT WORK EXPERIENCE
Parks & Rec. Surveys/Assessments
Broomfield, CO
Cedar Rapids, IA
Cripple Creek, CO
Eagle-Vail, CO
Erie, CO
Fruita, CO
Grand Junction, CO
Ken Caryl Ranch, CO
Jefferson County, CO
Larimer County, CO
Louisville, CO
Lafayette, CO
Oklahoma City, OK
Palm Springs, CA
Park County, CO
State of New Mexico SCORP
Spokane, WA
Superior, CO
Village at Castle Pines, CO
Housing & Transportation Assessments
Aspen/Pitkin County, CO
Boulder, CO
Eagle County and Town of Vail, CO
Grand Junction, CO
Lafayette, CO
Longmont, CO
Pueblo, CO
San Miguel County, CO
Weld County, CO
Westminster, CO
Tourism and Ski Area Visitor Research
National Ski Areas Association
Colorado Ski Country USA
Vail Resorts
Breckenridge Tourism Office
Copper Mountain
Telluride Ski and Golf Company
Upper Colorado River Research, CO
CONTACT
P: 303-396-1625
E: chris@rrcassociates.com
W: rrcassociates.com
RELEVANT BOARD
EXPERIENCE
• (Former)
Breckenridge
Outdoor
Education Center,
Breckenridge, CO
– boec.org
• GP RED –
Research,
Education and
Development for
Health,
Recreation and
Land
Management –
gpred.org
(currently board
president)
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David Becher
Director of Research
ABOUT
David has diverse experience managing and conducting many types of market research and
planning projects for public and private sector clients in his more than two decades at RRC.
With an educational background in urban and regional planning, public administration, and
business administration, David works extensively in the areas of survey research, economic
and demographic research, community planning, and affordable housing.
EDUCATION
Master of Business Administration, University of Colorado at Boulder
Master of Urban and Regional Planning, University of Colorado at Denver
Master of Public Administration, University of Colorado at Denver
Bachelor of Arts, Philosophy major, concentration in Environmental Studies, Williams College
PROFESSIONAL EXPERIENCE
2008 to present Director of Research, RRC Associates, Boulder, CO
1992 to 2008 Research Analyst and Sr. Research Analyst, RRC Associates, Boulder, CO
RELEVANT WORK EXPERIENCE
Planning & Affordable Housing
City of Boulder Comp Plan Survey, CO
Monroe County Job Generation Study, FL
North Lake Tahoe Community Survey, CA
Teton County Housing Nexus Survey, WY
Snowmass Housing Assessment, CO
Aspen Employment Generation Study, CO
Roaring Fork Valley Housing Study, CO
San Miguel County Housing Study, CO
Boulder Afford. Housing & HOA Study, CO
Park County Housing Survey, CO
Gunnison County Fee-In-Lieu Update, CO
Telluride Region Growth Study, CO
Economic & Fiscal Impact Analysis
Boulder Regional Economic Analysis, CO
Snowbasin Cost/Benefit Analysis, UT
Winter X Games Economic Impact, CO
Economic Impact of Skiing in Colorado
Economic Impact of Skiing in Wisconsin
River Run Fiscal & Economic Impact, ID
South Lake Tahoe Retail Analysis, CA
Montrose Regional Econ. Analysis, CO
Wasatch Peaks Ranch Fiscal Impact, UT
Tourism/ Visitor Research
Estes Park Visitor Research, CO
Aspen Summer Visitor Research, CO
Snowmass Strategic Tourism Plan, CO
Jackson Hole Airport User Research, WY
Sun Valley Airport User Research, ID
Las Cruces Airport market demand, NM
Yakima Airport market demand, WA
Lea County Airport market demand, NM
North Lake Tahoe Visitor Research, CA
Downtown Boulder Visitor Research, CO
Vail Special Events Research, CO
Visit Littleton Branding Research, CO
Skier Research
NSAA National Demographic Study, US
NSAA Kottke Survey, US
Colorado Ski Country USA
Ski Utah
Ski Idaho
Ski Wisconsin
Vail Resorts
Alterra Mountain Company
Jackson Hole, WY
CONTACT
P: 303-396-1611
E: david@rrcassociates.com
W: rrcassociates.com
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3. Experience
Eagle County
12
3. EXPERIENCE
The EPS/RRC team has worked extensively on affordable housing studies and
mitigation fee programs, addressing similar questions to those that will be
addressed in this study. The two firms use a highly integrated approach and
draw from each other’s experience and insights to provide a well-rounded,
data driven set of recommendations. Both firms have been on the forefront
of affordable housing needs assessments (for the past 30 years), which have
evolved into studies that link housing solutions to local expenditure. These
linkage studies cover commercial, local residential, and guest spending. The
studies that have focused on guest spending are a relatively recent evolution
in the strategic basis that local communities can use to more comprehensively
address the growing affordable housing need. In fact, few teams offer
the depth of experience with regulatory fee nexus studies, primary data
research, affordable housing strategies, and familiarity with mountain resort
communities.
EPS Relevant Experience
Short Term Rental Study
Vail, Colorado
The Town hired EPS, in partnership with RRC, to analyze the existing STR
inventory, understand the housing impacts of STR use in the town, and
complete a nexus study to support a fee on STR units. Through this work,
EPS was able to characterize the STR inventory in the Town of Vail, including
location, size, occupancy, rental rate, and ownership characteristics. This data
was contextualized within the overall town lodging inventory to understand the
role of STR units in the lodging sector.
EPS also analyzed the Town’s housing market over a three year period, with
a focus on units registered as STRs before and/or after sale, to evaluate the
type and value of units used as STRs and how those units relate to the overall
housing market.
The final component of this effort was a nexus study to support a fee program,
with revenue supporting local workforce housing programs. EPS’s analysis used
an economic impact model to document the relationship between STR guest
spending and affordable housing demand based on employment generated
by spending. This resulted in a recommended fee for mitigating the impacts of
STRs on housing need in the town.
This fee program and other policy changes, determined in partnership with
staff, are currently under consideration by Town Council.
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Economic & Planning Systems, Inc. | RRC Associates
Short-Term Rental Program Fee Nexus Study
13
Short Term Rental Regulatory Fee Study
Breckenridge, Colorado
The Town of Breckenridge is a national and international ski and outdoor
recreation destination. Town policy makers are facing a housing crisis and
pressure from constituents to address the problem. The housing challenges
are being amplified by the ongoing COVID-19 pandemic and its impacts on
“amenity migration” patterns resulting in increased purchases and occupancy
of second homes and conversion of second homes and long term rentals to full
time residences for remote workers, further pricing out the local workforce. On
top of that, the growth of vacation rental by owner platforms such as VRBO and
Airbnb is driving investment in housing by corporate entities buying “trophy”
properties to manage and market with usage patterns more like hotels than
traditional vacation rentals. The growth of Metro Denver has also generated
more buyers who tend to purchase older and lower priced properties as second
homes, sometimes converting long-term rental housing to second homes and
short term rentals (STRs).
The Town hired EPS to work with its legal staff to design a regulatory fee
program applied to short term rentals. Traditional lodging properties such
as hotels and lodges (defined by zoning classifications) are exempt from the
fee in order to target properties more likely to affect neighborhoods and long
term rental or purchase opportunities for the local workforce. EPS prepared an
economic analysis that demonstrated the impacts of STR use on the demand
for workforce housing and calculated an annual fee designed to fund related
housing programs. We then projected the potential fee revenue the program
would generate and worked with Town Housing and Finance staff to ensure the
fee revenues would be restricted to housing programs. Town Council adopted
the fee in November 2021.
Roaring Fork Valley Regional Housing Study
Aspen to Glenwood Springs and New Castle to Eagle, Colorado
The Roaring Fork Valley has become
synonymous with high housing costs, a tight
and constrained housing supply, and an ever-
expanding commute shed. The discontinuity
of affordable housing practices, goals,
policies, and initiatives by numerous counties
and municipalities makes tackling affordable
housing needs and issues an even more
challenging problem to solve. For the past
few decades, it has been clear that housing
needs for the workforce are not being met
sufficiently. Years of applying best practices
in most of the Valley’s communities has helped many, but left still many more
needs unmet.
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3. Experience
Eagle County
14
This goal of this study was to provide a solid foundation from which a regional
solution could finally address a regional problem. EPS and its subconsultant,
RRC Associates, provided an in-depth analysis of workforce needs, a projection
of age-and income-specific needs, and a robust foundation from which to
communicate the story and issues to local governments, stakeholders, and
the public. The team conducted the first-ever regional resident and employer
survey to comprehensively assess the perceptions, concerns and housing
needs of residents, workers, and employers. The team also pioneered a new
methodology for identifying housing gaps by income. The findings revealed
subregional under- and over-supplies, inter-regional dependencies, and a truer
picture of the housing needs by income created by each driver of housing
demand – factoring in wage and salary workers, proprietors, non-working
residents, in-commuters and out-commuters.
San Miguel Housing Needs Assessment
San Miguel County, Colorado
In partnership with RRC Associates, EPS provided the County with a
comprehensive Housing Needs Assessment report. This analysis included an
evaluation of past studies and datasets, a summary of housing needs and
conditions in San Miguel County, and documented factors affecting the supply
and demand for housing—such as employment growth, housing production,
commuting trends, and job holdings. In addition, the study provided estimates
on the depth of need, both in terms of existing and projected, based on a
detailed evaluation of employee generation rates. The employee generation
rate data was provided as a platform for updating fee standards for commercial
linkage programs, for all jurisdictions within the county. The final report allowed
San Miguel County to identify specific affordable housing goals by income
level, informed the housing needs in the county over the next five years, and
provided a basis for new mitigation fees.
Lake County Housing Needs Assessment
Leadville, Colorado
Lake County is a unique community in the Rocky
Mountain West, given its origins and continuity as a
mining community and its growing appeal as a tourism
and recreation destination. Leadville, the County’s only
incorporated municipality, has a strong mining history
and downtown historic district. The regional context for
Lake County is one of growth in both the commercial
and residential sectors. The surrounding counties include
Eagle, Summit, Chaffee, and Pitkin, each of which has a
thriving real estate market and growing economy. Lake
County’s residents provide much of the workforce for
these surrounding communities, as regional housing
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Economic & Planning Systems, Inc. | RRC Associates
Short-Term Rental Program Fee Nexus Study
15
challenges push workers to seek housing in Lake County. There has been a
major shift in the Lake County housing market since 2015, both in rental and
for-sale homes. While Lake County is not alone in the challenges it is facing, its
geographic and employment context make the challenges and opportunities
present distinct in the region.
EPS prepared a Housing Needs Assessment for Lake County that focused on
identifying the key housing issues facing the community as well as resources
in the County available to address these issues. The analysis documented
economic and demographic conditions contributing to housing affordability
issues, evaluated the housing market to identify market trends affecting
affordability, and recommended strategies and actions for the City and County
to pursue to increase the supply and affordability of housing.
This work was done through data analysis, stakeholder input obtained through
focus groups and direct interviews, and community outreach through two
community meetings. The resources and strategies available to the community
were cataloged, and applicability to Leadville and Lake County was assessed as
part of the creation of an action plan to address identified issues and goals. The
analysis emphasized implementation measures focused around policy, funding,
and governance. EPS made recommendations in five categories: land strategy,
policy initiatives, organization and management, funding sources, and regional
partnerships.
Economic Impact of Resident Housing Investment
Vail, Colorado
The Town of Vail has made significant financial investments
in resident housing over many decades. Such investments
were rooted in an awareness that affordability and
availability of housing for residents and the workforce
benefit the broader Vail economy, business community,
the overall community character, and the quality of the
guest experience. One of Vail’s more innovation and
effective investment strategies has been deed-restriction
acquisitions, in which the Town appropriates funds annually
to ensure that homes are available for residents and the
workforce. A new deed restriction purchase program, called
Vail InDEED, was recently created to ensure Vail meets its
2027 Vail Housing 2027 Strategic Plan goal of acquiring
1,000 additional resident housing unit deed restrictions
by the year 2027. In times of competing community
investment priorities and alternatives, it is important that the benefits of
resident housing investment are quantified and understood by the community
and its leadership. For this purpose, the Vail Local Housing Authority (VLHA)
contracted with EPS to quantify the economic values and community benefits
of resident housing investment on the local economy and community.
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3. Experience
Eagle County
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COVID-19 Economic Resiliency Plan
Ouray County, Colorado
EPS worked with Ouray County to develop strategic
initiatives that effectively address the economic
challenges from the COVID-19 pandemic. The work
built on our analysis of local economic sectors with
the greatest exposure and those best positioned
for recovery and expansion. EPS also mapped out
processes and structural relationships between the
County, its jurisdictions, and State agencies to improve
the communication and implementation of COVID-19
related regulations and assistance. The impetus of the
study was to help local residents, business owners, and
jurisdictions become proactive in thinking about how
to measure the impact of future shocks to the system,
and how to build economic resiliency to effectively
manage these shocks as they arise in the future.
This effort involved significant analysis on the structure of and trends in the
Ouray County economy, business sentiment, visitor activity, and the local public
health and emergency management system. At its core, it was a data-driven
effort calibrated based on local understanding. The study culminated in a series
of recommendations on how Ouray County can foster economic resiliency
and position itself for current and future challenges. Recommendations were
organized into four major categories: Communications, Readiness to Access
Sources of Aid, Regional Economic Resiliency, and Tactical Recommendations
for businesses. In addition, EPS developed an updated set of recommendations
that built on the goals presented in the 2011 Ouray County Bottom-up Economic
Development Strategy, with a particular focus on the progress Ouray County has
made and how it can use these goals to advance economic resiliency.
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RRC Relevant Experience
San Miguel/Ouray Counties (Colorado) Regional Housing Study
In 2018/19 (with EPS), and previously in 2010/11, RRC conducted employer and
resident housing surveys throughout San Miguel and Ouray Counties. The
employer surveys were designed to obtain commercial linkage data as well
as employer perceptions of local housing needs and potential solutions. The
household and commuter surveys were designed to reach a broad population
of residents and workers to better understand local housing problems and
preferences. The results of both surveys were used to develop assessments of
housing needs in the region.
RRC conducted employer surveys throughout San Miguel (Telluride) and
Ouray Counties in 2010/11. These surveys were designed to obtain employer
data including number of employees per square foot. This information will be
used for various modeling efforts, transportation planning and for potential
development or refinement of local fees imposed on new commercial
development. There was also a household survey (mailed) and an in-commuter
survey (conducted on bus lines) designed to reach a broad population of
residents and workers.
Aspen/Pitkin County, Colorado, 2008 - 2022
RRC Associates has worked over many years with
the City of Aspen, Town of Snowmass Village, Pitkin
County, and Aspen / Pitkin County Housing Authority,
conducting needs assessment surveys, employment
generation studies, and other studies over the past
decade, including the following:
•2022 studies in progress: RRC Associates, in
conjunction with EPS, is currently conducting a
series of studies in Pitkin County, including the
following:
o Analysis of the Pitkin County economy (for Pitkin County)
o Residential employment generation study (for City of Aspen)
o Short-term rental regulatory fee study (for City of Aspen)
•Aspen Residential Employment Generation Special Topics Analysis, 2021:
As a partial followup to the 2015 residential employment generation work
described below, RRC examined the employment generation associated
with STRs in Aspen via a reanalysis of 2015 survey data. The analysis also
examined trends in the construction of basements in Aspen, and residential
employment associated with below-grade square footage.
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3. Experience
Eagle County
18
•Roaring Fork / Lower Colorado River Valley Housing Needs Assessment, 2018-
19: Working on a consultant team, RRC conducted surveys of residents and
employers as part of effort to evaluate housing needs and opportunities in
the Aspen to Parachute region. The study was designed to be a resource for
jurisdictions throughout the region, as well as contribute to discussions of
potential regional solutions.
•Aspen Residential Employment Generation Study, 2015: This study evaluated
employment impacts associated with the construction and ongoing
operation/maintenance of residential homes in the City of Aspen, with
segmentation by type of unit (single family/duplex vs. condo/townhome) and
occupancy type (full-time resident vs. other users). The results of the study
were used to update housing mitigation regulations for new residential
development.
•Affordable Housing Fee Methodology, 2012: Working on a consultant team,
RRC helped provide the Aspen/Pitkin County/Aspen-Pitkin County Housing
Authority with a methodology for calculating fees that could be assessed by
the City of Aspen in lieu of the provision of required affordable housing, and
by Pitkin County though its affordable housing impact fee program.
•Housing surveys of Residents, Employees, Homeowners and Employers, 2008:
Working on a consultant team, RRC helped provide the City of Aspen and the
Aspen Pitkin County Housing Authority with a survey-based housing study
that provided a variety of data concerning local residents, including their
demographics and their evaluations of different aspects of the community.
The results were used for a variety of housing planning purposes.
City of Aspen and Aspen/Pitkin County Housing Authority Reports:
https://www.apcha.org/342/Research-Reports
https://docplayer.net/9402413-Aspen-residential-employment-generation-study.
html
Comprehensive Plan Update – Housing and Economic Appendices (2019)
Garfield County, Colorado
Working on a consultant team, RRC Associates
assisted Garfield County in updating the
appendix chapters to its comprehensive plan
regarding housing and economic development.
The housing appendix drew heavily from the
regional housing needs assessment and data
resources RRC helped produce in 2018-19
(summarized above), along with other relevant
data. The economics appendix included a broad
overview of historic trends and future projections
of the Garfield County economy, along with deeper dives on specific topics
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(such as agriculture, energy and outdoor recreation). The appendices were
intended to provide a fact base and context for the County as it considers policy
changes in the comprehensive plan.
Economic Impact of the Eagle County Regional Airport, 2014/15 and 2017/18
In winter 2014/15 and summer 2015, using surveys of winter and summer air
passengers, RRC Associates quantified the direct economic impacts of the
visitors and party-time residents who used the Eagle County Regional Airport,
including impacts on Eagle County as a whole and on the respective individual
communities within Eagle County. The research was repeated and updated in
winter 2017/18. The study was used by the EGE Air Alliance to lobby for support
for local air service development efforts. (RRC has also conducted airport
passenger research and economic impact analyses for several other mountain
resort airports, including Gunnison, Hayden, Jackson, and Sun Valley.)
Links to summary results and press: http://media.wix.com/
ugd/5e050f_27b2f48ab4ea431bae942b8310ce27ac.pdf
http://www.vaildaily.com/news/study-puts-numbers-to-eagle-county-airport-
impact/
Town of Jackson / Teton County, WY Resident and Employer Housing Surveys
Description and status of the engagement: Working on a consultant team
in support of a regional housing study, RRC designed, administered, and
analyzed the results of two mailback surveys, of Teton County employers and
homeowners respectively. The surveys focused primarily on a range of housing
and employment issues in the region. The homeowner survey was mailed to
3,000 homeowners and yielded a 33.1 percent response rate, while the employer
survey was sent to 1,000 employers and yielded a 24.3 percent response rate,
with each supportedxxx by an extensive public outreach effort. The results
were incorporated a study entitled “Teton County & Town of Jackson Employee
Generation by Land Use Study 2013.” The work leveraged RRC’s knowledge and
experience working in mountain communities generally and Jackson Hole area
specifically, as RRC had a long history of conducting a variety of survey research
on behalf the local ski resort, airport, Housing Authority (2005-06), and other
entities in the Jackson Hole region.
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4. Schedule | 5. Budget/Pricing
Eagle County
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4. SCHEDULE
EPS is scheduled to finish the STR Conditions deliverable by mid August and
the final report by late November.
Figure 1. Project Schedule
5. BUDGET/PRICING
EPS agrees to complete the above work program on a time and charges basis
up to a maximum of $57,500. The approximate breakdown of level of effort by
task and firm is shown below in Table 1 on the next page. The EPS/RRC team is
amenable to suggestions from Eagle County regarding the budget allocation
by task and welcome your input regarding the level of effort and corresponding
budget amounts.
⚫
⚫
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Table 1. Proposed Budget by Task
Task Description EPS RRC Total
Task 1: Project Kickoff Review work plan and confirm schedule $1,500 $1,500 $3,000
Task 2: Data Collection $7,000 $9,500 $16,500
Task 2.1 - Primary Data Tabulate primary data, occupancy rates from AirDNA, VRBO, Inntopia, etc.$1,000 $7,750
Task 2.2 - Secondary Data County parcel layer, location of STRs, MLS data overlay, saturation by subarea, etc.$6,000 $1,750
Task 3: STR Conditions Deliverable Provide understanding of current status, challenges, and opportunities $5,250 $1,000 $6,250
Task 4: Community Outreach $1,500 $500 $2,000
Task 4.1 - BOCC Worksession Update BOCC on study, set expectations, include key issues for balance of study $1,500 $500
Task 5: Nexus Study $9,500 $2,000 $11,500
Task 5.1 - Spending Analysis Spend by local households compared to spend by guests, w/ peer community data $5,500 $1,000
Task 5.2 - Economic Impact and Housing Need Incorporate wages by occupation, job holding factors, purchase potential $4,000 $1,000
Task 6: Policy Evaluation $7,250 $2,000 $9,250
Task 6.1 - Mitigation Sensitivity Analysis Build from existing policy and provide direction for regulatory fee structure $3,750 $750
Task 6.2 - Recommended Regulatory Fee Structure Build from peer communities to define recommendation for BOCC $3,500 $1,250
Task 7: Community Outreach $1,500 $500 $2,000
Task 7.1 - BOCC Worksession Final presentation $1,500 $500
Task 8: Final Report Report to establish basis for fee adoption $5,000 $1,500 $6,500
Totals $38,500 $18,500 $57,000
Direct Costs
Data Acquisition/Misc.$500
Total Direct Costs $500
Total Project Budget $57,500
Source: Economic & Planning Systems
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6. Familiarity with Eagle County
Eagle County
22
6. FAMILIARITY WITH EAGLE COUNTY
EPS has worked extensively in Eagle County over the
past 20 years and knows many of the communities
as well as the unincorporated areas. Active clients
include Vail, Avon, Minturn, and the Town of Eagle.
EPS is currently working on two projects for the Town
of Eagle including the Grand Avenue corridor plan
and a recently awarded affordable housing study.
Recently, Andrew Knudtsen of EPS was asked to
facilitate the Eagle County Affordable Housing Task
Force. During the Task Force meeting, he was able
to capture an array of comments related to STRs and
how the needs and challenges vary by community
throughout the county.
RRC has also worked extensively in the county with
many of the same jurisdictions. Over the past several
decades, the firm has worked for both Vail Resorts
and Vail Associates. RRC's historical knowledge of
the workings of Eagle County, the economic drivers, the impact of growth over
time, and the importance of affordable housing in the functioning of the county
will provide strong contextual support for this project. It is clear that the EPS/
RRC team are well recognized and can build from a breadth of previous work
throughout the county.
In addition the teams' work in Eagle County, both EPS and RRC are currently
working together in Mountain Village, Pitkin County, Summit County and the
City of Aspen. All of this work is related to affordable housing and some directly
overlap with the nexus analysis of the impact of STRs on local housing. The two
firms have also worked extensively in the region, including Lake County, Mesa
County, Garfield County, San Miguel County, Teton County (WY) as well as others.
Few teams offer the level of experience throughout the Rocky Mountain West.
Peer Community Funding Analysis
Avon, Colorado
The Town of Avon is a small, mountain community and a gateway to the Beaver
Creek Ski Resort. Avon officials and staff received questions from constituents
regarding the Town’s tax and fee levels and the necessity of some of these
charges. Town officials and staff wanted objective data on tax, revenue, and
expense levels in peer communities to inform the budget process for 2018
and its constituents. As part of Avon’s Strategic Plan for fiscal years 2017-2018,
a tier one priority was to utilize the Real Estate Transfer Tax (RETT) to bolster
affordable, workforce housing. The Town wanted an assessment of the impact
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of the RETT on the local real estate market and the revenue implications of any
modifications. The Town of Avon sought to ensure the revenue streams of the
local government were reasonable and provided their residents and guests
with a comparable level of service.
The Town retained EPS to evaluate and compare the revenue structure and
budgeting practices of several peer communities in nearby Eagle and Summit
Counties. A selection criterion of these communities was the existence of
a RETT, a revenue source no longer allowed to be adopted but has been
grandfathered. For the initial task, EPS collected and analyzed budget, tax,
fee, and other financial information for each peer community. To compare
the various communities, EPS developed demand unit comparisons from the
revenue and expenditure data and normalized each community’s revenue and
expense data. Additional items analyzed included town services, real estate
conditions, and capital funding and development charges. EPS identified other
revenue options that other communities collect but Avon does not. The new
revenue sources for Avon include construction use tax, construction excise
tax, and vehicle use tax. For each new revenue source, EPS identified revenue
projections for the Town of Avon. EPS facilitated a discussion with Town Council
on the findings and recommendations.
Grand Avenue Corridor Plan
Eagle, Colorado
The Town of Eagle received control of a portion
of Grand Avenue (Highway 6) from the Colorado
Department of Transportation (CDOT) that
extends from Eby Creek roundabout on the east
to the western edge of the town boundary. The
Town of Eagle is now responsible for the roadway
improvements and maintenance, which prefaced
the Grand Avenue Corridor Plan. The Corridor
Plan aims to improve mobility, establish a strong
sense of place and identity, and direct future
development along the corridor such that it creates connectivity between
major destinations and enables walkability and biking along the corridor and to
the downtown commercial core.
EPS is responsible for the economic analysis of redevelopment opportunities
along the corridor. This includes an in-depth market analysis of the demand
and supply metrics of the Town and market area. EPS held business and
property owner stakeholder groups to integrate findings with data analysis and
identify opportunities to catalyze development. EPS is identifying value capture
and public financing strategies for the Grand Avenue corridor and providing
an evaluation matrix and revenue estimates to enable the Town to identify
best-fit options to include in a final set of recommendations. EPS will workshop
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6. Familiarity with Eagle County
Eagle County
24
with Town staff to define, evaluate, and rank the options. An implementation
strategy and timeline for improvements will be created by EPS to identify
aggregate proceeds (sources) and total project costs (uses) that address capital
improvements by phase.
Wolcott Master Plan Market Study
Eagle County, Colorado
EPS was retained by the developer to provide a third-party market analysis
in support of its efforts to develop the property and secure debt and equity
investors. At build out, the Wolcott Master Plan envisions 577 residential units
and approximately 150,000 square feet of commercial and mixed-use space.
Of the 375 acres, 140 acres will be dedicated to open space, and a mile-and-
a-half of currently private Eagle River shoreline will become accessible to the
public, including a park and event area. The development intends to meet the
market with an approach to satisfying demands of a wide range of buyers,
including boomers, gen-xers, locals looking for a more central location, second
home owners, and others all with a common interest in a mixed use, walkable
development with a high level of amenities and community engagement.
EPS provided the developer with a comprehensive market analysis, including
a grounding of the proposed product mix and types, pricing, absorption.
The findings documented the volume and price points of comparable and
competitive developments in up-valley, mid-valley, and down-valley locations.
EPS identified where price points and volumes had been before, during,
and after the recession, and projected these critical demand elements
would be over the next few years. In addition to providing quantitative data
backing conclusions regarding product pricing and absorption, EPS provided
qualitative rationale for the market strengths of this development, as well as
an assessment of funding structures, such as a Homeowners Association and
Metro District and the corresponding buyer tolerance for dues.
Tree Farm Market Study
Eagle County, Colorado
EPS was retained to complete a market study
and a feasibility pro forma for a 72-acre planned
development with sketch plan approval from Eagle
County for 400 housing units and 123,279 square feet of
commercial space. The primary purpose of the market
study was to evaluate the proposed use and propose
adjustments in the product mix and pricing based on
current and forecasted market conditions. In addition,
EPS forecasted cash flows associated with property
and sales tax collections that the development would
receive from a proposed metro district.
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EPS evaluated conditions and trends in the Mid Valley relevant to market rate,
affordable, and resident-occupant housing products. The residential analysis
assessed demographics, building activity, the development pipeline, product
mix, and affordable trends. The study included an analysis of the competitive
developments in the Mid Valley, an inventory of the unsold, unbuilt and
approved housing units. The commercial market analysis included an inventory
of retail commercial, office commercial, and service commercial/industrial
space in the Mid Valley. EPS estimated existing retail expenditure and total
personal income, inflow and leakage of retail sales by store type, and existing
store sales for the Mid Valley. The analysis also included a forecast of demand
for retail space, and retail development potentials for the project by store type.
The industrial analysis evaluated the inventory of competitive space, live/work
unit developments, historical development conditions, and estimated the
development potentials for industrial space and live/workspace.
The feasibility proforma was developed to be used by the developer to test a
variety of development scenarios. The model evaluated the financial returns of
the project based on a variety of development programs and infrastructure cost
estimates. Model inputs were built to be adjustable to allow the client to run a
variety of scenarios.
Red Mountain Ranch Market and Economic Study
Eagle, Colorado
The Town of Eagle requested EPS evaluate the market potential for additional
commercial development within the community. Key areas of concern to
the Town included the long-term economic viability of its historic downtown;
the ability of the Town to reach its future fiscal demands based on projected
growth and community need; and clarity concerning the costs and revenues
associated with growth. The study was triggered by a request for annexation of
the 400-acre Red Mountain Ranch proposed for 450,000 square feet of retail
development and 300 residential units.
EPS assessed market demand and projected the level of additional supportable
retail space by measuring expenditure outflow and estimating the level of
sales that could be captured by the Town with additional development. EPS
then constructed a model based on the findings of the market analysis to
assess fiscal impacts and forecast future Town revenues and expenditures
over a 20-year period. EPS structured the model to enable the Town to test
multiple scenarios to understand its future financial performance. In addition,
EPS evaluated impacts to the historic downtown area, which required separate
considerations for regional retail and locally-targeted retail. EPS advised the
Town regarding the opportunities and challenges associated with the local
retailers and how to enhance the economic conditions of the downtown area.
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7. References
Eagle County
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7. REFERENCES
Town of Vail
Kathleen Halloran, Finance Director | 970 479 2116 | khalloran@vailgov.com
Pitkin County
Cindy Houban, Community Development Director | 970 920 5097 | cindyh@
co.pitkin.co.us
Town of Breckenridge
Rick G. Holman, Town Manager | 970 547 3166 | rickh@townofbreckenridge.
com
City of Aspen and Aspen/Pitkin County Housing Authority
Ben Anderson, Principal Long-Range Planning , Community Development, City
of Aspen | 970 429 2765 | ben.anderson@aspen.gov
Katherine Gazunis (former Executive Director, Garfield County Housing
Authority) currently Executive Director, Bloomington Housing Authority
812 339 3491 x124
Garfield County
Fred Jarman, Deputy County Manager | 970 945 8212 | fredjarman@garfield-
county.com
Vail Resorts Eagle County
Gabe Shalley (former Senior Airline Marketing Manager, Vail Resorts) Vail Valley
Foundation | 970 777 2015 | gshalley@vvf.org
Town of Jackson / Teton County, WY
Christine Walker (former Teton County Housing Authority Executive Director)
Navigate, LLC Workforce Housing Solutions | 307 690 4487 | Christine@
NavigateJH.com
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8. LEGAL ISSUES
Economic & Planning Systems states that there are no lawsuits, federal, state, or
local tax liens, or any potential claims or liabilities against the firm or its officers
of the company at this time nor within the last three years.
9. DELIVERABLES
This study will provide a nexus analysis documenting the relationship between
guest spending in STRs and demand for workforce housing, with the result
providing a reasonable fee that can be charged annually for regulatory purposes.
The study will use economic impact techniques to quantify the relationships
between guest spending when staying in STRs and the number of jobs and
employee-households supported in the local economy by that spending.
Guests staying in STRs spend money in the local economy – this spending
supports jobs that typically do not pay enough for employees to afford market-
rate housing. The nexus analysis will document the magnitude of employee
housing need generated by guest spending, the extent of the affordability
gap between the need from these employees and the local cost of housing,
and calibrate the fee to mitigate that gap. The analysis will also account for
the impact of local resident households, with the fee calculation based on the
difference between the impact of guest spending and the baseline impact of
local resident spending.
This analysis will use a jobs-housing economic impact model to quantify the
jobs and households supported by guest spending in STRs. The IMPLAN model
(Impact Analysis for Planning) was used to estimate the relationships between
spending and jobs supported. IMPLAN was developed by the Bureau of Land
Management, U.S. Forest Service, and the University of Minnesota and is widely
used by state and federal agencies, academic researchers, and local economic
development organizations to evaluate the economic impacts of proposed
policies, new industries, and land use changes.
Step 1: Guest Spending Impacts
The impact of guest spending is analyzed in six steps:
1. Guest expenditures: The first step is to determine the level of guest
spending in unincorporated Eagle County. RRC Associates – a member
of this team - has extensive data on guest spending from primary survey
collections, and will provide this data for the study area as well as peer
community areas as points of comparison. This data has been collected over
multiple years and RRC is able to segment the data to further clarify the
degree of economic impact attributed to STR guest spending.
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Eagle County
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2. Jobs supported: Guest spending will be applied to the IMPLAN model for
the affected industries (those industries where guest spending occurs –
Accommodation and Food Services, Retail Trade, and Arts Entertainment
and Recreation). IMPLAN applies industry expenditure flows through its
input-output model and estimates the spending and jobs supported
by that spending across the 20 major industries in the North American
Industrial Classification System (NAICS).
3. Multiple job holder adjustment: The job generation data is adjusted to
reflect that many employees have more than one job. This adjustment
is made to ensure the analysis does not overestimate the number of
employees supported, and is calculated using a jobs-per-employee factor
local to Eagle County.
4. Employment by industry, occupation, and wage level: The IMPLAN
results are provided by NAICS industry; this data is then further analyzed
by occupation and wage level to provide a more detailed summary of the
employment generated by guest spending.
5. Household formation: Another adjustment is made to account for the
fact that many households have more than one earner (and need is being
calculated by households, not individual employees). This adjustment
has the effect of raising the collective income of the employees within a
household, thus increasing the amount the employee-household can pay
for housing and reducing the gap between their ability to pay and the cost
of housing.
6. Tabulate households by income range: The number of households
by income range (as a percent of Area Median Income) are tabulated,
resulting in the total housing need, by affordability level, generated by guest
spending in the local economy.
Step 2: Local Household Spending Impacts
The impact of local resident household spending is then calculated to isolate
the difference between guest spending and local resident households, and
base the gap on that difference (and not the entire impact of guest spending).
To do this, the same economic impact method will be used for a resident
household earning the local median income to document the jobs supported
from local household spending in the economy. The housing need associated
with local spending is then subtracted from that of guest spending, resulting
in the needs associated with guest spending above those of a local resident
household.
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Step 3: Fee Calculation
The last step of the analysis is to calculate the fee supported by the impact of
guest spending. There are four key components to the fee calculation:
1. Households Supported: The number of households at or below a specified
AMI level supported by guest spending form the basis of the fee, as these
represent employees needed in the community who cannot otherwise
afford housing.
2. Occupancy Rate: Guest expenditures are estimated on a per-unit per-
day basis, which results in a total impact for 365 days per year. To reflect
the impact of guest expenditures actually seen in the economy, a locally-
calibrated STR occupancy rate is applied to the housing demand.
3. Affordability Gap: The affordability gap per household and AMI range will be
calculated based on local housing market conditions. The total affordability
gap (accounting for households generated by AMI level and the associated
affordability gap) will be calculated, both for guest spending and local
spending, to determine the affordability gap generated by each STR unit and
local housing unit.
4. Adjustment for Local Households: To isolate the impact of guest spending
above the impact of a local household, the gap associated with local
household spending is subtracted from the gap associated with guest
spending, resulting in a net gap per STR unit. This gap represents the fee per
STR unit that would be required to mitigate 100 percent of the housing need
generated by guest spending.
Where possible (reflecting analysis and data availability), findings will help
inform whether different areas of the unincorporated county should be treated
differently under a fee program.
The methodology above will provide Eagle County with a solid basis from which
to adopt fees to fund affordable housing programs and projects. This approach is
one that EPS/RRC have used to help towns and counties increase their resources
to increase the availability of affordable housing. These programs can be used
to expand supply side and demand side solutions, both of which are needed to
address the growing need for additional affordable housing.
If the County requests additional analysis to understand the impact of second
homes not used as STRs, EPS recommends completing this effort and then
defining an independent scope of work with County staff to address the
impact of these homes, which are often dark. EPS has worked with staff from
comparable jurisdictions on this topic and generally find that the solutions
are more complex than a fee adoption, and has recommended a ‘two-step’
approach. The first to establish fees, and the second to explore a larger program.
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Eagle County Prof Services Final 5/14
EXHIBIT B
Insurance Certificate
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SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE
THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN
ACCORDANCE WITH THE POLICY PROVISIONS.
INSURER(S) AFFORDING COVERAGE
INSURER F :
INSURER E :
INSURER D :
INSURER C :
INSURER B :
INSURER A :
NAIC #
NAME:CONTACT
(A/C, No):FAX
E-MAILADDRESS:
PRODUCER
(A/C, No, Ext):PHONE
INSURED
REVISION NUMBER:CERTIFICATE NUMBER:COVERAGES
IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed.
If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on
this certificate does not confer rights to the certificate holder in lieu of such endorsement(s).
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES
BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED
REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.
OTHER:
(Per accident)
(Ea accident)
$
$
N / A
SUBR
WVD
ADDL
INSD
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD
INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,
EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
$
$
$
$PROPERTY DAMAGE
BODILY INJURY (Per accident)
BODILY INJURY (Per person)
COMBINED SINGLE LIMIT
AUTOS ONLY
AUTOSAUTOS ONLY NON-OWNED
SCHEDULEDOWNED
ANY AUTO
AUTOMOBILE LIABILITY
Y / N
WORKERS COMPENSATION
AND EMPLOYERS' LIABILITY
OFFICER/MEMBER EXCLUDED?
(Mandatory in NH)
DESCRIPTION OF OPERATIONS below
If yes, describe under
ANY PROPRIETOR/PARTNER/EXECUTIVE
$
$
$
E.L. DISEASE - POLICY LIMIT
E.L. DISEASE - EA EMPLOYEE
E.L. EACH ACCIDENT
EROTH-STATUTEPER
LIMITS(MM/DD/YYYY)POLICY EXP(MM/DD/YYYY)POLICY EFFPOLICY NUMBERTYPE OF INSURANCELTRINSR
DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required)
EXCESS LIAB
UMBRELLA LIAB $EACH OCCURRENCE
$AGGREGATE
$
OCCUR
CLAIMS-MADE
DED RETENTION $
$PRODUCTS - COMP/OP AGG
$GENERAL AGGREGATE
$PERSONAL & ADV INJURY
$MED EXP (Any one person)
$EACH OCCURRENCE
DAMAGE TO RENTED $PREMISES (Ea occurrence)
COMMERCIAL GENERAL LIABILITY
CLAIMS-MADE OCCUR
GEN'L AGGREGATE LIMIT APPLIES PER:
POLICY PRO-JECT LOC
CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DD/YYYY)
CANCELLATION
AUTHORIZED REPRESENTATIVE
ACORD 25 (2016/03)
© 1988-2015 ACORD CORPORATION. All rights reserved.
CERTIFICATE HOLDER
The ACORD name and logo are registered marks of ACORD
HIRED
AUTOS ONLY
5/12/2022
Andreini &Company-San Mateo
220 West 20th Ave
San Mateo CA 94403
Sara Alemayehu
(650)378-4320 650-378-4361
salemayehu@andreini.com
Continental Casualty Company 20443
ECONO-5 Sentinel Insurance Company Ltd 11000Economic&Planning Systems
455 Capitol Mall,Suite 701
Sacramento CA 95814
Hartford Casualty Ins.Company 29424
Lloyd's of London
855846886
B X 2,000,000
X 1,000,000
10,000
2,000,000
4,000,000
X X
Y Y 51SBABA6144 4/1/2022 4/1/2023
4,000,000
B 1,000,000
X X
Y Y 51SBABA6144 4/1/2022 4/1/2023
B X X 1,000,00051SBABA61444/1/2022 4/1/2023
1,000,000
X 10,000
C X
N
Y 51WECAK5W1H 4/1/2022 4/1/2023
1,000,000
1,000,000
1,000,000
A
D
Errors &Omissions
Cyber/Privacy Liability 425343942
ESK0139438544
4/1/2022
4/1/2022
4/1/2023
4/1/2023
Per Claim/Aggregate
Per Claim/Aggregate
2,000,000
1,000,000
30 days notice of cancellation except 10 days for non-payment of premium per policy provisions.
Errors &Omissions Retro 1/1/83 Retention -$10,000
EPS #223026 Eagle County Short-Term Rental Program Fee Nexus Study
Eagle County,Colorado is additional insured on a primary and non-contributory basis under the Business Liability policy form provisions for BOTH General and
Auto Liability with respect to operations and work performed by the named insured as required by written contract.Waivers of Subrogation apply per attached
policy provisions.
Eagle County,Colorado
Attn:Anna Earl
Finance Manager
Post Office Box 850
Eagle CO 81631
DocuSign Envelope ID: 3048F0D7-BF7B-4BBA-A3B5-191CCEA3D02E